Minister for European Funds and the Implementation of the Electoral Programme Stefan Zrinzo Azzopardi announced an extension of the Business Enhance Scheme, with €10 million in European funds available for projects aimed at improving the competitiveness of small and medium-sized enterprises through investments in technology, innovation, and sustainable productivity.
This announcement was made during a visit to the Kingstone Ltd factory, an enterprise that benefitted from this scheme to invest in advanced technological equipment in the field of stone and ceramic processing.
The Minister praised the contribution of European funds in building a modern and competitive economy, stating that the Government will continue supporting small and medium-sized enterprises to become more resilient and digital.
“European funds are giving a direct boost to small businesses to innovate and grow. Through the Business Enhance Scheme and other programmes under the ERDF, we have already committed more than €28 million in over 440 grant agreements. At present, seven schemes are open, with €10 million specifically dedicated to projects that increase business competitiveness. These are funds that are translating into more jobs, greater productivity, and enhanced competitiveness for the Maltese economy,” said Minister Zrinzo Azzopardi.
The Minister added that this initiative goes hand in hand with the measures announced in Budget 2026, which include an unprecedented investment of €100 million in digitalisation and emerging technologies such as Artificial Intelligence (AI), the Internet of Things (IoT), and cybersecurity, also supported by European funds and other schemes under various Government agencies.
“Budget 2026 sets out a clear vision – an economy that looks to the future, built on innovation and digital skills. European funds will be instrumental in turning this vision into reality,” the Minister emphasised.
Minister Zrinzo Azzopardi thanked Kingstone Ltd for its commitment to remain a competitive investor, while encouraging more businesses to come forward and apply for these aid schemes.
Through European funds, Kingstone Ltd received €56,175 in assistance under the European Regional Development Fund (ERDF), with a co-financing rate of 60% from the European Union and 40% in national funds.
The Business Enhance Scheme has been extended until June 2026 and is co-financed by the European Regional Development Fund, the Cohesion Fund, and the Just Transition Fund 2021–2027, under the priority “A more competitive and smarter Europe.”
Photo: DOI/MFI
